As parts of the country see a boost in housing inventory, housing affordability is the primary factor preventing consumers from diving into the homebuying process.
For two decades, the global investment firm allegedly mislabeled collateralized mortgage obligations issued by private entities as government or corporate bonds.
Industry attorneys said the Second Circuit ruling for the second time in favor of federal preemption, in contrast to First and Ninth circuit rulings, increases the odds that SCOTUS will have to revisit the issue.
Elena Babinecz, a shareholder at the law firm of Baker Donelson and a former deputy assistant director at the CFPB, advised financial entities to “stay the course” on fair lending under ECOA, except for when it comes to special purpose credit programs.
Consumer complaints filed with the CFPB increased across all categories during the first quarter. Issues with student loans were up 34.1% from the fourth quarter. (Includes two data tables.)
The Trump administration is seeking reinstatement of a preliminary injunction issued in April 2025, which allowed the CFPB to terminate employees but under certain circumstances.
The new standards for fair lending enforcement are set to take effect in July. Industry attorneys have warned that the changes to ECOA regulations don’t signal the end of fair lending risk for lenders.